Tag Archives: Economy

Introduction: The International Monetary Fund (IMF) has approached Pakistan Tehreek-e-Insaf (PTI) and other major political parties in Pakistan to seek their support for the $3 billion standby agreement. This engagement is of crucial significance as the IMF Executive Board prepares to approve the disbursal of funds. Let’s delve into the recent developments and implications of this interaction between the IMF …

Introduction In a recent report released by the State Bank of Pakistan (SBP) on Thursday, the foreign exchange reserves held by the central bank experienced a significant surge of 9.6% on a week-on-week basis. As of June 30, the SBP’s foreign currency reserves reached $4.4 billion, marking an increase of $393 million compared to the previous week’s $4.06 billion. This …

The Pakistani currency, the Rupee, recently witnessed a remarkable surge, gaining 3.83% against the US dollar in the inter-bank market, and reaching a four-month high at Rs275.44. The currency also showed a 3.57% rise in the open market, reaching Rs280 against the greenback. This surge comes as the International Monetary Fund (IMF)’s new loan programme defended the value of the …

Pakistan’s economic challenges have been widely acknowledged in recent times, with an acute balance of payments crisis and dwindling foreign exchange reserves threatening the country’s financial stability. However, there is a glimmer of hope as the International Monetary Fund (IMF) and Pakistan have finally reached a staff-level agreement on a $3 billion stand-by arrangement. The deal, still pending approval from …

Pakistan is actively looking to strengthen its energy trade partnerships, with a specific focus on Central Asia and Turkmenistan. The goal is to establish Gwadar as an international energy hub, attracting investments from China and European countries to set up liquefied natural gas (LNG) plants and facilitate the export of fuel. State Minister for Petroleum, Musadik Malik, highlighted Pakistan’s interest …

Introduction: Pakistan’s hydrocarbon sector achieved a significant milestone with the completion of the Lakki Marwat Oil and Gas Field project. Led by the Oil and Gas Development Company Limited (OGDCL), the project aims to enhance energy production and contribute to the country’s economic growth. With the capacity to produce 1,000 barrels of oil per day and provide 1.3 million cubic …

Introduction: The Pakistani rupee continues to face challenges in the currency markets, despite several positive developments in recent days. While the currency saw a partial recovery in the open market, it failed to strengthen in the interbank market, highlighting the need for long-term measures to stabilize its value. Financial experts are urging the government to focus on resuming the International …

Introduction: In a significant development, the government of Pakistan has taken steps to hand over its Karachi port terminals to the United Arab Emirates (UAE). The government anticipates that this move, which aims to raise emergency funds, will be the first intergovernmental transaction under a law enacted last year. The negotiations have gained momentum, and the government expects to finalize …

Introduction: The upcoming fortnight in June brings mixed news for fuel consumers in Pakistan. While the price of petrol is expected to decrease by Rs1.87 per litre, diesel might become costlier by Rs3.29 per litre. These adjustments in fuel prices, based on the rates of petroleum levy and general sales tax, will have implications for both individuals and industries relying …

Introduction: Economic experts gathered at a post-budget conference have underscored the importance of implementing structural reforms and finding native solutions to achieve sustainable economic growth. They argue that relying heavily on international lending agencies alone will not be enough to lift the country out of its economic challenges. Key issues such as the balance of payments and fiscal deficit need …